Is it possible to reverse a G algo update (Penguin/Panda)?

[seo.owl]

...if yes, how?  Can you share resources / blogs / etc...  I want to reverse my site's rankings.

Here's the gist of it:

• I recently purchased a website that has 600+ pieces of aged content on it.
• Domain was ranking great about 10 years ago  (1M uniques a year)
• It apparently got hit by a G algo update in 2012/2013 (Penguin and Panda?), because the rankings have tanked (10 hits a day)
• In the past two years, the previosu owner published about 100+ off-topic blog posts and it appears been using the site as a PBN. The UX sucks and there's a ton of 404s. (NOTE: I am in the process of removing that content and have cleaned up the 404s).

Domain stats: 20+ years old (1998) and DA 32, linking domains 850+, inbound links of 16k+

What I've done:

• disavow (550 domains),
• fix all the 404s

What I'm doing / about to do:

• remove spammy content
• write new/fresh on-topic content
• update the site UX
• start a backlink building campaign

My questions:

• is it common to bounce back from a G algo update? is it hard / am I over my head / am I a sucker trying to get the site back alive?
• are there articles about bouncing back that you can share so I can learn more about this process? Or agencies / consultants, etc that you recommend?
• what other recommendations / suggestions do you have that would help reverse this 8-year-old penalty?

[seo.owl]

Agreed... the SEO landscape has changed greatly since 2012.  I'll definitely have to re-invest in new, fresh content and start building backlinks.

But what I'm looking for specifically is a playbook for bouncing back from an algo penalty.  I need a strategy.  I was hoping others have been able to bounce back and have shared their experience.

ps - it's an algo penalty, not manual, so no messages or warnings in GSC unfortunately.

[RossKernez]

Hi there,

It is doable, but it will not be an easy task since now you have more competitors than back in 2012. I would say it depends on your specific vertical, your budget, and your end goal for this site.  You need to see who you go against to because you need to consistently invest money into content and links in order to beat your competitors. If you still have a penalty is GSC then you should submit a reconsideration request by saying that you are a new owner of the site.

Ross